Neo Tokyo News: 28 June - 04 July 2025

$BYTES Are Oiled Up

Author

Neo Tokyo News
July 04, 2025

Neo Tokyo News: 28 June - 04 July 2025

In this issue:

  • Oh How the Mighty Have Fallen (by Flower83)

  • This Week in Neo Tokyo: $BYTES Are Oiled Up (by PhoenixxDown)

Oh How the Mighty Have Fallen

Remember Blur? It was once on a path to be the best NFT marketplace in existence.

Remember Blast? It was once on a path to become the best consumer L2 chain.

This week they announced a $blur airdrop in a discord, not even on Twitter. Not wanting to make their failures public. They got clowned by emojis. Funny.

These days, hardly anyone talks about them on twitter or in Discord, and nobody seems to treat them with any respect anymore. Their team members are also shilling HyperLiquid (an L2 chain that actually did things right and has the valuation Blast wanted to have).

Both their tokens $BLUR and $BLAST have been locked in a never-ending downward spiral for a while now.

So what happened?

Well, the prices of their tokens, believe it or not, are completely and totally justified when we look at the data. It all starts to make sense.

First, if we look at Blur’s trading volume lately it's falling behind OpenSea by almost half.

It might not seem like much, but remember - they used to be way ahead (by thousands of ETH in monthly volume) for quite a while. What's more, at their peak they were pulling in between 5,000 and 10,000 ETH volume weekly. As of early July 2025 it is down to approximately 2,500–3,000 ETH.

The active holders’ statistic is even worse; with OpenSea’s numbers doing a cool 20x of what Blur’s is.

Though, admittedly, this can be attributed to the fact that OpenSea has an airdrop coming soon - so some of it might be wash trading or at least fake volume caused by farmers. Still, the discrepancy is insane.

According to DappRadar Blur currently has 15,000–20,000 active users per month. This number was 10x as much (150,000–200,000 monthly active users) a little less than two years ago in late 2023.

So in short, Blur is cooked. But the same goes for Blast, actually.

According to DefiLlama, Blast's TVL is reported to be approximately $200 million, a significant drop from its peak of over $1 billion in early 2024.

Even on the social side it's not better. Many accounts are FUDing them hard, and people who were once top farmers on Blur, are now celebrating their downfall. When Pacman’s twitter got suspended, there was a lot of grave dancing.

It also doesn't help that a lot of team members are moving over or endorsing HyperLiquid over Blast.

All hype and no substance never works out; it might take a while, but your product will eventually trend to zero if you just promise stuff and never innovate, execute and add utility.

See you in the next one.

This Week In Neo Tokyo:
$BYTES Are Oiled Up

It emerged yesterday that $BYTES have been pulled into the Blackhole.

What will come out the other side of this Bhole? It’s a fair question. I said a few weeks ago that $BYTES will go Diddy mode, but this is NOT what I had in mind.

And it appears soon we’ll be able to check our allocation. Find out the latest instructions on whether you qualify and the claim details at this link.

(You had to fill out a form — if you didn’t, then you don’t qualify. Don’t get crazy, there’ll probably be more, just stay active.)

In other news, Citizen MHL has introduced his Tokenomics Calculator — just in time for the launch of ByteStreet. This could come in handy for Citizens and Meatbag investooors alike. The platform also includes services like tokenomics audits, SAFT analysis, and more — all with MHL’s direct expertise.

I gave it a spin and it’s a solid, easy-to-use tool.

And MHL is giving out free trials so you can try it out too! Follow the instructions in the post below to secure yours:

Interlinked #87

Market Monday #129

NT x Unfungible Space - Today at 12:00 EST

Short Scoops

Until next next week, citizens.

All content from Neo Tokyo News is for entertainment purposes only, is not financial advice, and does not reflect the opinions of Neo Tokyo.

That’s it for our 105th edition of the Neo Tokyo Newsletter. Be sure to subscribe and share with your friends so you don’t miss out on future content.

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